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Arvinas, Inc. (ARVN) Soars 10.3%: Is Further Upside Left in the Stock?
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Arvinas, Inc. (ARVN - Free Report) shares rallied 10.3% in the last trading session to close at $31.51. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 22.4% loss over the past four weeks.
This surge was most likely attributable to the recovery of the share prices of Arvinas after they dived earlier this week when the company reported in an SEC filing that it is delaying the initiation of a phase III study evaluating ARV-471, an investigational protein degrader being developed in collaboration with Pfizer.
This company is expected to post quarterly loss of $1.04 per share in its upcoming report, which represents a year-over-year change of -4%. Revenues are expected to be $41.44 million, up 57.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Arvinas, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ARVN going forward to see if this recent jump can turn into more strength down the road.
Arvinas, Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Allogene Therapeutics (ALLO - Free Report) , finished the last trading session 2.7% higher at $6.09. ALLO has returned -26.3% over the past month.
For Allogene Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.71. This represents a change of -31.5% from what the company reported a year ago. Allogene Therapeutics currently has a Zacks Rank of #2 (Buy).
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Arvinas, Inc. (ARVN) Soars 10.3%: Is Further Upside Left in the Stock?
Arvinas, Inc. (ARVN - Free Report) shares rallied 10.3% in the last trading session to close at $31.51. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 22.4% loss over the past four weeks.
This surge was most likely attributable to the recovery of the share prices of Arvinas after they dived earlier this week when the company reported in an SEC filing that it is delaying the initiation of a phase III study evaluating ARV-471, an investigational protein degrader being developed in collaboration with Pfizer.
This company is expected to post quarterly loss of $1.04 per share in its upcoming report, which represents a year-over-year change of -4%. Revenues are expected to be $41.44 million, up 57.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Arvinas, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ARVN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Arvinas, Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Allogene Therapeutics (ALLO - Free Report) , finished the last trading session 2.7% higher at $6.09. ALLO has returned -26.3% over the past month.
For Allogene Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.71. This represents a change of -31.5% from what the company reported a year ago. Allogene Therapeutics currently has a Zacks Rank of #2 (Buy).